Ballarpur Industries Ltd (BILT) has acquired the entire paid-up capital of Premier Tissues India Ltd (PTIL). BILT has signed a share purchase agreement with PILT and all its shareholders for acquisition of the stake.
PTIL is engaged in the business of manufacturing and trading of tissue paper and related products under the brand names "Premier" and "Royal", either directly or indirectly, BILT said in a filing with the Bombay Stock Exchange (BSE).
Ballarpur Industries Limited (BILT) is India's largest paper company and the only Indian company to rank amongst the top 100 paper companies in the world.
BILT, part of the $3 billion Avantha Group, is India's largest manufacturer and exporter of paper, with a strong presence in all segments of the usage spectrum, including writing and printing paper, industrial paper and speciality paper.
The company has a diversified production infrastructure with six manufacturing units spread across the country.